Anyone ever work for Monumental Life?

hman · 01-27-2007, 03:22 PM

I am with an IMO right now. Am considering a switch to Monumental Life. Not sure if I can make enough cash with them since you are captive. Any input would be great.

pfsthib · 01-27-2007, 04:11 PM

If you want to market Monumental you don't have to be captive. I know a couple of places you can get a contract for them.

hman · 01-27-2007, 04:46 PM

Thanks but I need benefits and they do provide a small base salary to service the book of business or territory they give you on top of commish. I am sick of paying for dead end leads also.

fla2cali · 01-27-2007, 08:49 PM

Where are you switching from? Also, how long you have you been in the business?

hman · 01-28-2007, 11:38 AM

Switching from the Infamous NAA. I have been licensed since May 2006. I interviewed with Mon Life and am due to start Next week.

*STIBROKER@AUSTIN.RR.COM* · 01-28-2007, 01:41 PM

Originally Posted by hman

Switching from the Infamous NAA. I have been licensed since May 2006. I interviewed with Mon Life and am due to start Next week.

awww man.......well here....... we will get the naa homie to pour a 40 in your honor.....

somarco · 01-28-2007, 02:33 PM

How big is your debit balance with NAA?

James · 01-28-2007, 02:39 PM

Originally Posted by hman

I am with an IMO right now. Am considering a switch to Monumental Life. Not sure if I can make enough cash with them since you are captive. Any input would be great.

They seem to have a full line of business, even though I hear they are out of the LTCi yet they seem to still have it? You have Term, WL, UL, Final Expense, Supplements for seniors don't know if its competitive or not? Simply don't know why you couldn't? What commission are they offering on their Term? Is it greater than 75% or less?

hman · 01-28-2007, 03:42 PM

Not sure what a debit balance is. And comiss works out to be close to that of a begining contract with NAA. But add in a monthly service salary benefits , pension and stock options.

somarco · 01-28-2007, 04:58 PM

Not sure what a debit balance is

If you have been working for any length of time with NAA, you will soon find out what a debit balance is.

Their agency advances commissions on life business sold. If you fail to write enough business to offset the cancellations, you owe NAA money.

As I said, they will tell you soon enough what your debit balance is.

healthagent · 01-28-2007, 05:01 PM

And if you ask about your debit balance and the manager says anything like "don't worry about it" or "just concentrate on new sales" then be afraid.

hman · 01-28-2007, 06:13 PM

Only been with NAA for 6 Mos. thanks. Anyway, My question was about Monumental. Trying to find if anyone is with Monumental and If decent money can be made first year..Thanks again

James · 01-28-2007, 07:12 PM

Originally Posted by hman

Only been with NAA for 6 Mos. thanks. Anyway, My question was about Monumental. Trying to find if anyone is with Monumental and If decent money can be made first year..Thanks again

According to their website you should expect to make between 25-50 grand the first year. I suppose you should expect something like that if you work it an make quota's they will obviously have. If you don't they'll make your life hell and you'll soon be gone.

somarco · 01-29-2007, 04:55 AM

Only been with NAA for 6 Mos. thanks. Anyway, My question was about Monumental. Trying to find if anyone is with Monumental and If decent money can be made first year

Since you seem to reject information that may be of value in making your decision, come back in about 60 days after making the change and let us know how much NAA says you owe them, and how much of your new income from Monumental will be dedicated to paying off NAA.

Singing lessons over.

hman · 01-29-2007, 07:49 AM

Somarco,
You are mistaken. I have seen the comments regarding NAA. And at times they seem to be of subject. I do not want to open the door to that type of back and forth. I appreciate the info that is why I am here. Just trying to stay on topic. I am sure that you understand. Whether or not I will owe NAA, I still need as much information as I can find about my next potential employer.

healthagent · 01-29-2007, 07:55 AM

I have a friend who's been working for Monumental for over a year. Let me get in contact with him today and see if he's willing to talk with you.

healthagent · 01-29-2007, 09:48 AM

Check your PM - my buddy's info is there.

sman · 01-29-2007, 10:20 AM

Originally Posted by hman

Somarco,
You are mistaken. I have seen the comments regarding NAA. And at times they seem to be of subject. I do not want to open the door to that type of back and forth. I appreciate the info that is why I am here. Just trying to stay on topic. I am sure that you understand. Whether or not I will owe NAA, I still need as much information as I can find about my next potential employer.

Just out of curiosity, you stated you are due to start next week. Sounds like you've already accepted a position. Why wouldn't you do this type of research prior to a week from starting to work for someone?

healthagent · 01-29-2007, 10:37 AM

It wouldn't matter. Any company out there has their superstars who can waive around weekly checks for over $3,000.

Any hiring manager can make the opportunity seem so good that you'd feel stupid for saying no:

"I'll put you at 15% for health and give you 10 free exclusive telemarketed leads per day. You'll close 1 out of 10 at $3,500 per copy and make $2,600 per week!"

Sound good? The reality is 95% of all agents would get those 50 leads for the week, not close crap or what they did close either didn't go through underwriting or the offer didn't get accepted. The agents who really put in a lot of apps that all went through most likely washed the apps and didn't explain how the plans work.

hman · 01-29-2007, 12:06 PM

Sman,
I have not signed the offer yet. Plus, I just came accross this forum by accident on Saturday. Some of you folks are tough huh.